CBSE Class 12 Sample Paper 2027 for Accountancy

FOR CBSE CLASS 12 PREPARATION

CBSE Class 12 Sample
Paper 2027 for
Accountancy
EXAM YEAR TYPE SUBJECT

CBSE Class 12 2027 Sample Paper Accountancy

Notes · Sample Papers · Previous Year Papers · Mock Tests

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SAMPLE QUESTION PAPER 2026-27

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SUBJECT: - ACCOUNTANCY 055
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TIME 3 HOURS
CLASS XII
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MAX. MARKS 80

GENERAL INSTRUCTIONS:

1. This question paper contains 34 questions. All questions are compulsory.
2. This question paper is divided into two parts, Part A and B.
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3. Part - A is compulsory for all candidates.
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4. Part - B has two options i.e. (i) Analysis of Financial Statements and (ii) Computerised
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Accounting. Students must attempt only one of the given options.
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5. Questions 1 to 16 and 27 to 30 carry 1 mark each.
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6. Questions 17 to 20, 31and 32 carry 3 marks each.
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7. Questions from 21 ,22 and 33 carry 4 marks each
8. Questions from 23 to 26 and 34 carry 6 marks each
9. There is no overall choice. However, an internal choice has been provided in 2 questions of
three marks, 2 questions of four marks and 2 questions of six marks.
Part - A
Part A :- Accounting for Partnership Firms and Companies
1. A, B and C are partners sharing profits in the ratio of 4:3:2. W.e.f. 1st April 2026 they 1

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decided to share future profits in the ratio of 1:1:1. On the date of reconstitution,

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Workmen Compensation Reserve appears in the books of the firm at ₹27,000, and the
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liability on account of compensation to workmen is calculated at ₹36,000. Partners
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decided not to alter the books of accounts. What entry will be passed to effect the
above-mentioned change?
(A) A’s Capital ag
Dr. 1,000
To C’s capital A/c 1,000
(B) C’s Capital A/c Dr. 1,000
To A’s Capital A/c 1,000
(C) Workmen Compensation Reserve A/c Dr. 27,000
To A’s Capital A/c 12,000
To B’s Capital A/c 9,000
6,000
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To C’s Capital A/c
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(D) Workmen Compensation Reserve A/c Dr. 27,000
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Revaluation A/c Dr. 9,000
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To Workmen Compensation Claim A/c
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ag Aman and Suman are partners sharing profits and losses in the ratio of 3:2. Their 1
capitals as on 1st April 2025 were ₹2,00,000 and ₹3,00,000 respectively. After the
division of Net profits of ₹3,00,000 for the year 2025-26 among the partners, and
adjustment of drawings, their capital balances on 31st March 2026 were: Aman
₹3,00,000 Suman ₹4,00,000. The accountant omitted to charge interest on drawings. If
the firm wants to charge interest on drawings @10% p.a. Interest on Aman’s drawings
would be:
(A) ₹ 4,000
m (B) ₹ 8,000
.
(C) ₹ 40,000
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3. (A) Assertion: Issue price more than face value received on issue of shares is credited 1
to securities premium account but not to statement of profit and loss.

(R) Reason: In case of forfeiture of shares, securities premium not received is debited.

(A) Both (A) and (R) are true and (R) is correct explanation to (A).
(B) Both (A) and (R) are true but (R) is not correct explanation of (A).
(C) (A) is false but (R) is correct.
(D) (A) is correct but (R) is false.

4. A Ltd. invited applications for 50,000 shares of ₹10 each at par. Applications were 1
received for 80,000 shares. Shares were allotted on a pro-rata basis to applicants of
60,000 shares.
If application money was ₹3 per share and allotment money was ₹4 per share, how
much amount will be received on allotment from an applicant who applied for 6,000
shares?
(A) ₹ 20,000 (B) ₹ 24,000
(C) ₹ 21,000 (D) ₹ 17,000

5. R and S are partners sharing profits and losses in the ratio of 3:2. Their capitals are 1
₹3,00,000 and ₹1,00,000 respectively.
On 1st January 2026, the firm granted loans of ₹24,000 to R and ₹6,000 to S at 10%
p.a.
The loss before charging interest for the year ended 31st March 2026 was ₹2,650.
Calculate the share of loss to be borne by each partner after accounting for interest on
loans.
(A) Share of loss R ₹ 2,040, and S ₹ 1,360
(B) Share of loss R ₹ 3,390, and S ₹ 2,260
(C) Share of loss R ₹ 1,590, and S ₹ 1,060
(D) Share of loss R ₹ 1,140, and S ₹ 760

6. A, B and C were partners sharing profits and losses in the ratio of 5:3:2. A died on 1st 1
October 2025. The loss till the date of death was calculated at ₹ 75,000. Goodwill is to
be valued at two years’ purchase of the average profits of the last three years. The
profits for the last three years were ₹3,28,000; ₹3,46,000; and ₹4,00,000.
Calculate the amount payable by B and C to A’s executor towards goodwill.
(A) ₹ 1,79,000 and ₹ 1,79,000 (B) ₹ 2,14,800 and ₹ 1,43,200
(C) ₹ 4,29,600 and ₹ 2,86,400 (D) ₹ 2,23,750 and ₹ 1,34,250

7. X, Y, and Z are partners in a firm sharing profits and losses in the ratio 4:3:3. Z is 1
guaranteed a minimum profit of ₹ 50,000 per annum, the deficiency, if any, is to be
borne by X and Y equally. The firm's profit for the year ended 31st March 2026 is
₹40,000. The amount of deficiency to be borne by X and Y respectively will be:
(A) X ₹25,000 & Y ₹25,000 (B) X ₹21,714 & Y ₹16,286
(C) X ₹19,000 & Y ₹19,000 (D) X ₹5,000 & Y ₹5,000

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8. om L and M were partners sharing profits in the ratio of 5:3. They admitted

c. m N as a new
e of ₹3,00,000 and
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m partner and on the date of admission, firm had Investments
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Investment Fluctuation Reserve of ₹40,000. On the same date;
¥ M took over 40% of investments at ₹1,10,000. a
¥ The remaining investments were revalued at ₹1,50,000.
Identify the effect on the Revaluation Account.
(A) Credited ₹10,000 (B) Debited ₹10,000
(C) Credited ₹5,000 (D) No effect on revaluation A/c

9. Ravinder and Savita were partners sharing profits in the ratio of 3:2. Kavita was 1
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admitted for 1/5th share in profits and she brought ₹3,00,000, including ₹30,000
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towards goodwill.
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After adjusting for goodwill, revaluation of assets and liabilities, and reserves, calculate
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Savita’s adjusted capital on the basis of Kavita’s capital and profit-sharing ratio.

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(A) ₹4,32,000
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(C) ₹3,00,000 (D) ₹6,00,000

10. Machinery was appearing in the books at ₹12,00,000. It was found to be undervalued 1
by 20%. At what amount the machinery will be shown in the Balance Sheet of the
reconstituted firm?
(A) ₹14,00,000 (B) ₹15,00,000
(C) ₹12,00,000 (D) ₹16,00,000

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11. Tanya Ltd. issued 1,00,000 equity shares of ₹10 each at a premium of ₹2 per share. 1
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The amount was payable as follows: ₹4 on Application (including ₹1 premium) ₹5 on
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Allotment (including ₹1 premium) and ₹3 on Call. Applications were received for
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95,000 shares, which were duly allotted. Ravi, holding 3,000 shares, failed to pay the
allotment, so his shares were forfeited just after allotment. Later, 2,000 of these shares
were reissued at ₹9 per share as fully paid up. What amount will be transferred to
Capital Reserve?
(A) ₹ 4,000 (B) ₹ 7,000
(C) ₹ 10,000 (D) ₹ 6,000

12. Aarav Ltd. acquired the business of Mehul Ltd. as per the following agreement: 1
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¥ Assets of ₹ 20,00,000 were taken over at ₹18,00,000

m ¥ Liabilities of ₹ 2,80,000 were taken over at ₹2,50,000

m .coThe purchase consideration was discharged by:
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¥ Issuing 12,000 equity shares of ₹100 each at a premium of 25%

las ¥ ₹1,00,000 through bank draft.
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ag The amount of Goodwill/ Capital Reserve arising on acquisition will be:
(A) Goodwill ₹50,000 (B) Capital Reserve ₹50,000
(C) Goodwill ₹1,50,000 (D) Capital Reserve ₹1,50,000
13. Choose the correct sequence of events in case of retirement of a partner. 1
(i) Preparation of revaluation A/c.
(ii) Transfer of amount due to retiring partner to retiring partner’s loan A/c.
(iii) Preparation of capital A/c to calculate amount due to retiring partner.
(iv) Treatment of goodwill.
(A) (iv), (i), (ii), (iii)
m (B) (i), (iv), (iii), (ii)
.
(C) (iii), (ii), (i), (iv)
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14. A, B, and C are partners sharing profits in the ratio of 5:3:2. On dissolution, a creditor of 1
₹40,000 accepts ₹30,000 in full settlement. Another creditor of ₹ 15,000 is paid in full.
What amount will be transferred to the Realisation Account to close the creditors A/c?
(A) ₹55,000 (B) ₹45,000
(C) ₹70,000 (D) ₹40,000

15. Ritika Ltd. issued 1,000 equity shares of ₹80 each at a premium of ₹10 per share. 1
Application and allotment money of ₹50 (including ₹6 premium) per share was called,
and the entire amount was duly received.
What will be amount reflecting in the Subscribed but not fully paid-up capital:
(A) ₹50,000 (B) ₹44,000
(C) ₹56,000 (D) NIL

16. Which of the following items is not transferred to the Realisation Account at the time of 1
dissolution of a firm?
A. Goodwill appearing in the books.
B. Employees Provident Fund
C. Provision for doubtful debts
D. General reserve
E. Debit Bank Balance
(A) D only (B) A, B and C
(C) D and E (D) B, D and E

17 A. Amit, Akash and Ayush decided to dissolve their firm. Pass necessary journal entries 3
for the following transactions after transferring all assets (except Cash and Bank) and
outside liabilities to the Realisation Account:
I. Debtors amounted to ₹82,000. Provision for Doubtful Debts was ₹6,000.
Debtors of ₹12,000 went bad. The remaining debtors were taken over by a debt
collection agency at 80% of book value.
II. Amit agreed to pay his wife’s loan of ₹20,000 in settlement of loan of ₹25,000
given to Amit.
III. Creditors amounted to ₹40,000 were payable after three months. Creditors
worth ₹10,000 were given furniture costing ₹8,000 in full settlement. The
remaining creditors allowed a discount of 10% irrespective of the time period.
OR
17 B. L, B and P are partners. They decided to dissolve the firm.
In each of the following situations identify the incidence (borne by) of expenditure of
dissolution and the paying identity (paid by) related to dissolution expenses of a firm:

Case I Realisation A/c Dr. 10,000
To L’s Capital A/c 10,000
(Being realisation expenses recorded)
Case II L’s Capital A/c Dr. 10,000
To P’s Capital A/c 10,000
(Being realisation expenses recorded)
Case III P’s Capital A/c Dr. 10,000
To Cash A/c 10,000
(Being realisation expenses recorded)
18. B, C and D are partners sharing profits in the ratio of 1:1:1. As per the partnership deed 3
salary is allowed to the partners as follows:
• B is entitled to a salary of ₹ 2,000 per month.
• C is entitled to salary of ₹ 16,000 p.a.

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m • D is entitled to a salary of ₹ 4,000 per quarter. .co

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Amit, an employee of the firm was entitled to a salary of ₹ 5,000 on half yearly basis
se which was omitted to be provided.
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Calculate the amount of profits to be given to each partner by way of appropriation in
each of the following cases, when the profit/loss before the above adjustments is:
Case 1. Profit of ₹ 72,000
Case 2. Profit of ₹ 45,000
Case 3. Loss of ₹ 20,000
19. Drum Ltd. decided to expand its operations by acquiring the business of Crane Ltd. and 3
agreed to take over assets worth ₹6,00,000 and liabilities worth ₹40,000 at an agreed
purchase consideration of ₹6,30,000
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The purchase consideration was discharged by issuing 10% Debentures of ₹100 each
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at 10% discount to Crane Ltd.
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On the basis ag
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I. Calculate the number of debentures issued to discharge the purchase
consideration.
II. Pass necessary journal entries in the books of Drum Ltd.
20. Calculate goodwill of the firm on the basis of 3 years’ purchase of the average profits of 3
the last five years which were as follows:
Year Amount (₹)

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31 March 2022 – (1,00,000)

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31st March 2023 – 30,00,000
31st March 2024 – 16,00,000
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31st March 2025 – 17,50,000
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31st March 2026 – 18,50,000
Additional Information:
(i) On 1st January 2025, a fire broke out which resulted into a loss of goods of
₹3,00,000. A claim of ₹ 70,000 was received from the insurance company.
(ii) During the year ended 31st March 2026, the firm realised ₹ 80,000 from sale of
scrapped machinery.
(iii) For the year ending 31st March 2026, wages of ₹ 50,000 were debited twice
inadvertently by the accountant of the firm.
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21. XYZ Ltd. was registered with an authorised capital of ₹ 80,00,000 divided into 8,00,000 4
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equity shares of ₹ 10 each. The company offered 1,00,000 shares for public
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subscription at ₹ 2 premium. Share was payable as ₹ 3 on application (including ₹ 1
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las premium), ₹ 6 (including balance premium) on allotment and balance on call. Public
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had applied for 1,25,000 shares out of which applications for 5,000 shares were
a rejected and remaining were allotted on pro-rata basis.
All the money has been duly received except allotment and call money on 10,000
shares held by Raja. His shares were forfeited.
Show the Share Capital head as it would appear in the balance sheet and also prepare
Notes to Accounts for the same.
22 A. S, D and A are partners, sharing profits in the ratio of 5 : 2 : 3. Their fixed capitals are: 4
S – ₹1,00,000
D – ₹50,000
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A – ₹50,000
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As per the partnership deed, S is entitled to a commission of 10% of net profit after
charging such commission.
However, while preparing the accounts for the year ended 31st March 2026, this
commission was not provided. The net profit of the firm was ₹1,10,000.
On the basis of above information:
I. Calculate the correct amount of commission payable to S.
II. Pass the necessary journal entry that the accountant would have passed for
distribution of profits without providing commission to S.
III. Pass the necessary adjusting journal entry at the beginning of the next year to
rectify the above-mentioned error.
OR
22 B. Alpha, Beta and Delta were partners. On 31st August 2023, Delta died and after all
the adjustments an amount of Rs.3,22,000 was payable to his executors. It was
agreed to pay Rs.22,000 immediately and balance in 3 equal instalments together
with interest @10%p.a. on 31st March 2024, 31st March 2025 and 31st March 2026,
Prepare Delta’s Executors account till it is finally paid off.

23. I. Pass necessary journal entries for 'Issue of Debentures' in the following cases: 6

a) Arman Ltd. issued 750, 12% Debentures of ₹100 each at a discount of 10%
redeemable at a premium of 5%
b) Sohan Ltd. issued 800, 9% Debentures of ₹100 each at a premium of 20 per
debenture redeemable at a premium of ₹10 per Debenture.

II. X Ltd. obtained a loan of ₹4,00,000 from “The Development Bank”. The company
issued 5,000; 9%. Debentures of ₹100 each as a collateral security for the same. As
per the policy the company effects these transactions through journal. Show journal
entries and prepare the extract of balance sheet.

24. A, B and C are partners sharing profits and losses in the ratio of 4:3:3. 6x1
They decided to change their profit-sharing ratio to 3:2:5 with effect from 1st April 2026. =6
Balance Sheet of A, B and C
as at 31st March 2026
Liabilities Amount (₹) Assets Amount (₹)

Creditors 1,20,000 Land & Building 4,00,000

General Reserve 90,000 Machinery 2,00,000

Profit & Loss A/c 60,000 Stock 1,50,000

A’s Capital 3,00,000 Debtors 1,00,000

B’s Capital 2,50,000 Cash 1,70,000

C’s Capital 2,00,000

10,20,000 10,20,000

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1. Goodwill of the firm is valued at ₹1,50,000.
se 2. Land & Building is revalued at ₹4,50,000.
3. A provision for doubtful debts @5% is to be created on debtors. ag l
4. An unrecorded liability of ₹20,000 is discovered.

Based on the above information answer the following MCQs:

I. The net sacrifice made by partners (in terms of share of profit) is:
A) A sacrifices 1/10 and B sacrifices 1/10; C gains 1/5
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B) A gains 1/10; B gains 1/10; C sacrifices 1/10
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C) A sacrifices 1/10; B gains 1/10; C gains 1/5
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D) A gains 1/10, B gains 1/10; C sacrifices 1/5
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II. Which of a
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the following journal entries is correct for treatment of goodwill?
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(A)
aA’sg Capital A/c
To C’s Capital A/c
Dr. (B) A’s Capital A/c
B’s Capital A/c
Dr.
Dr.
To C’s Capital A/c
(C) C’s Capital A/c Dr. (D) C’s Capital A/c Dr.
To A’s Capital A/c A’s Capital A/c Dr.
To B’s Capital A/c To Goodwill A/c

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III. The amount of goodwill to be compensated by gaining partner(s) is:
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(A) ₹45,000
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(B) ₹30,000
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(C) ₹75,000
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(D) ₹1,50,000

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IV. The net gain on revaluation will be:
(A) ₹25,000 (B) ₹20,000
(C) ₹5,000 (D) ₹30,000

V. General Reserve and Profit & Loss Account will be distributed in:
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(A) New ratio (B) Gaining ratio
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(C) Old ratio (D) Sacrificing ratio
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las VI. After all adjustments, the balance of C’s capital will be? ag
ag (A) ₹2,22,500 (B) ₹2,35,000
(C) ₹3,00,000 (D) ₹3,50,000

25 A. X and Y were partners sharing profits in the ratio of 1: 2. Their Balance Sheet as at 6
31st March 2026 was as follows:

Liabilities ₹ Assets ₹
Creditors 30,000 Cash 20,000
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Outstanding 4,000
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Expenses

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Capitals: Debtors 40,000
X 1,50,000 Less: Prov. for doubtful debts 500 39,500
Y 3,00,000 4,50,000 Stock 1,20,000
General Reserve 6,000 Furniture 30,000
Machinery 2,72,500
Patents 5,000
Profit and Loss A/c 3,000

4,90,000 4,90,000
th st
They agreed to admit Z for 1/4 share on 1 April 2026 on the following terms:
i. Goodwill of the firm was valued at ₹60,000 and Z was to bring in a new and
updated machinery costing ₹ 5,000 as a part payment against his share of
premium for goodwill and the furniture for the balance of his share of goodwill
premium.
ii. ₹ 10,000 were receivable from a debtor who was declared insolvent, only 50% of
the amount could be recovered in cash by selling his assets.
iii. Provision for doubtful debts to be raised to 10% of the value of revised debtors.
iv. Patents were valueless.
v. Stock was found to be overvalued by 20%.
vi. ₹ 3,500 be provided for an unforeseen liability.
vii. Z to bring in capital equal to 1/4th of the combined capital of X and Y after all
adjustments.
Pass required journal entries on the admission of Z and also prepare Balance Sheet of
the reconstituted firm.
OR

25 B. A, B and C were partners in a firm sharing profits in 2:2:1 ratio. On 31.3.2026, C retires
from the firm. On the date of C’s retirement, the Balance Sheet of the firm was as
follows:

Balance Sheet of A, B and C
as at 31.3.2026
Liabilities Amount Assets Amount
(₹) (₹)
Creditors 54,000 Bank 45,000
General Reserve 10,000 Debtor 12,000
Outstanding Rent 4,400 Less: Provision
for doubtful debts 800 11,200
Provision for Legal Claim 12,000 Stock 18,000

Capitals: Furniture 8,200
A 92,000 Premises 1,80,000
B 60,000 Goodwill 10,000
C 40,000 1,92,000
2,72,400 2,72,400

On C's retirement the goodwill of the firm was valued at ₹ 45,000.
After retirement the accountants of the firm worked out the following balance sheet, but
they misplaced the papers on which Revaluation A/c and Partners’ Capital were
worked out.

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m . c CBSE Class 12 Sample Paper 2027 for Accountancy

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Balance Sheet of A and B (After C’s retirement)

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as at 31.3.2026
se Liabilities Amount
(₹)
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Assets
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Amount
(₹)
Creditors 54,000 Bank 34,600
General Reserve 5,000 Debtor 12,000
Outstanding Rent 4,400 Less: Provision
for doubtful debts 600 11,400
Provision for Legal Claim 14,400 Stock 16,200

C’s Loan 40,000 Furniture 10,200
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Capitals: m
c. o87,800 Premises 1,89,000
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m 55,800 s e
A
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B
g l a 1,43,600
2,61,400 a
a
2,61,400

On the basis of above information, you are required to help the accountants of the firm
in preparing Revaluation A/c, and Partners Capital Accounts of the reconstituted firm.

26 A. Lacchoo Ltd. invited applications for 1,20,000 equity shares of ₹10 each at a premium 6
of ₹ 4 per share, payable as –
₹6 on Application (including ₹2 premium)
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₹5 on Allotment (including ₹1 premium)

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Balance on First & Final Call.

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Applications were received for 2,70,000 shares, out of which applications for 10,000
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shares were rejected and the allotment was made on a pro-rata basis to the remaining
applicants.
Mr. Parivesh, who was allotted 1,200 shares, failed to pay call money. His shares were
forfeited after due notice. Later, these shares were reissued at ₹ 100 per share as fully
paid-up.
Pass necessary Journal Entries in the books of Lacchoo Ltd.
OR
26 B. Neha Tech Ltd. has authorised capital of ₹ 20,00,000 divided into shares of face value
of ₹ 10 each. Company decided to issue 1,00,000 equity shares at a value of ₹ 100
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each. The entire face value was payable on application and the entire premium money
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m .cowas payable on allotment.
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s e Applications were received for 1,50,000 shares.
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g la Allotment was made on the following basis:
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a (i) Applicants of 10,000 shares were sent letters of regret.
(ii) To applicants for another 10,000 shares – Shares were fully allotted
(iii) Remaining applicants were allotted shares on a pro rata basis.
A shareholder who was allotted 18,000 shares belongs to category (iii), failed to pay
allotment money and his shares were duly forfeited. Later on, 5,000 shares were
reissued as fully paid on a premium of 200%.
You are required to give:
I. Cash Book, Share Capital A/c and Securities Premium A/c.
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II. Journal entries for forfeiture and re-issue of shares.
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Part B :- Analysis of Financial Statements
(Option – I)
27. A company had the following balances in their books of accounts: 1
Particulars 31st March, 31st March,
2026 (₹) 2025 (₹)
Work in Progress 1,00,000 90,000
Finished Goods 80,000 1,10,000
Stock in Trade 90,000 80,000
Raw Material 20,000 10,000
What will be the amount of Cost of Materials Consumed if purchases of raw materials
amounted to ₹ 1,60,000 and purchase of stock-in-trade amounted to ₹ 2,00,000?
(A) ₹ 1,90,000 (B) ₹ 3,40,000
(C) ₹ 1,50,000 (D) ₹ 3,50,000

28. Assertion (A):Current Ratio can never be less than Liquid ratio. 1
Reason (R): Current Ratio includes all current assets, including inventory
and prepaid expenses.
(A) Both A and R are correct, and R is the correct explanation of A
(B) Both A and R are correct, but R is not the correct explanation of A
(C) A is correct but R is incorrect
(D) A is incorrect but R is correct

29. Vivek Consultancy Private Limited purchased furniture for ₹20,00,000 paying 60% by 1
issue of equity shares of ₹10 each and the balance by a cheque. This transaction will
result in:
(A) Cash used in Investing activities ₹20,00,000 and Cash generated from
financing activities ₹ 12,00,000.
(B) Cash used in investing activities ₹ 8,00,000.
(C) Cash used in investing activities ₹ 20,00,000.
(D) Cash generated from financing activities ₹ 12,00,000.

30. Which of the following is not a cash flow from investing activities? 1
(A) Sale of 2,500 shares (held as investment) for ₹ 15 each
(B) Purchase of equipment for ₹ 500 cash
(C) Purchase of marketable securities for ₹ 25,000 cash
(D) Sale of land for ₹ 28,000 cash

31 A. Prepare a Comparative Statement of Profit and Loss of Uttu Machineries Ltd. for the 3
year ended 31st March 2026 from the following information:
PARTICULARS 31st March 31st March
2026 (₹) 2025 (₹)
Revenue From Operations 40,00,000 20,00,000
Cost of Revenue from Operations 4,00,000 2,00,000
Wages 6,00,000 4,00,000
Interest paid 1,00,000 1,00,000
Tax Rate 50% 50%

OR

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31 B.

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Prepare Common Size Statement of Profit and Loss for the year ended March 31,
se 2026
PARTICULARS 31st March 2026 (₹) ag l
Revenue from Operations 6,00,000
Indirect Expense 25% of gross profit
Cost of Revenue from Operations 4,00,000
Other incomes 30,000
Income tax 30%
32. Under which main head and sub - head of the financial statements are the following 3
items classified or shown:
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Warranty claims payable.
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Preliminary expenses written off.
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II.
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III.
l a Accrued and Due on Debentures.
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g of Alpha Traders is 1.2 : 1. Given that their operating cycle is of 8 months, 4
a
33 A. Quick Ratio
state with reasons whether the following transactions will increase, decrease, or not
affect the Quick Ratio:
I. Bills Receivable ₹40,000 were dishonoured and treated as bad debts.
II. Stock worth ₹25,000 was destroyed by fire; insurance company admitted claim
of ₹18,000 receivable within 6 months.
III. Furniture having book value ₹60,000 was sold for ₹52,000; sale proceeds to be
received in 11th month from the date of sale.
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IV. 12% Debentures of ₹2,00,000 were issued at a premium of 10% to a supplier of

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machinery costing ₹ 3,00,000 and balance was settled through cheque.
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OR
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33 B. From the given information, calculate the following ratios:

I. Current ratio

II. Inventory Turnover ratio
Information Revenue from operations (Net sales) ₹ 5,00,000, opening inventory
₹7,000, closing inventory ₹ 4,000 more than the opening inventory, net purchase is
70% of revenue from operations, operating expenses ₹ 30,000, liquid assets ₹ 75,000,
wages ₹ 10,000, salaries ₹ 20,000, carriage inwards ₹ 40,000, prepaid expenses
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₹2,000, current liabilities ₹ 60,000, 9% debentures ₹ 3,00,000, long - term loan from
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₹2,00,000.

las 34. From the following Balance Sheet of Krishang Ltd. as at 31 March 2026, calculate
ag 6

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Balance Sheet of Krishang Ltd. as at 31 March 2026

Note 31-03-2026 31-03-2025
Particulars
No. (₹) (₹)
I. Equity and Liabilities
1. Shareholders' Funds

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(a) Share Capital 6,00,000 5,50,000

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(b) Reserves and Surplus 1 1,50,000 1,00,000
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2. Non- Current Liabilities
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(a) Long term Borrowings 2 1,20,000 85,000
3. Current Liabilities
(a) Trade Payables 89,500 1,02,000
(b) Short - term Provisions 3 25,000 38,500
Total 9,84,500 8,75,500
II. Assets
1. Non- Current Assets
(a) Fixed Assets/Property Plant
and Equipment and Intangible
Assets
(i) Tangible Assets/Property,
Plant and Equipment 4 5,35,000 4,25,000
(ii) Intangible Assets 5 20,000 56,000
2. Current Assets
(a) Current Investments 1,20,000 75,000
(b) Trade Receivables 1,52,500 1,32,000
(c) Cash and Cash Equivalents 1,57,000 1,87,500
Total 9,84,500 8,75,500

Notes to Accounts:

Note Particulars 31-03-2026 31-03-2025
No. (₹) (₹)
1 Reserves and Surplus
Surplus i.e. Balance in Statement 1,50,000 1,00,000
of Profit and Loss
1,50,000 1,00,000
2 Long-term Borrowings
10% Debentures 1,20,000 85,000
1,20,000 85,000
3 Short - term Provisions 25,000 38,500
Provision for Tax 25,000 38,500

4 Tangible Assets/Property, Plant
and Equipment
Machinery 6,35,000 5,00,000
Less: Accumulated Depreciation (1,00,000) (75,000)

5,35,000 4,25,000

5 Intangible Assets

Goodwill 20,000 56,000
20,000 56,000
Additional Information:
i. A piece of machinery costing 12,000 on which accumulated depreciation was
8,000 was sold for 3,000.
ii. 10% Debentures were issued on 1st October 2025.
iii. On 1st May, 2025, Land was purchased of ₹ 2,00,000 for investment purpose but
due to financial requirements the company had to sell it on 31st January 2026 for
₹ 2,20,000.

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Part B: Computerised Accounting

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Identify the error which will be displayed on screen when the set of co-ordinates that a 1
cell occupies on a worksheet is invalid. a
(A) Correct a # NAME ? Error
(B) Correct # REF ! Error
(C) Correct a # N/A Error
(D) Correct a ##### Error

28. How are ‘absolute cell reference’ and ‘mixed cell reference’ identified in Excel ? 1

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(A) Using # sign

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(B) Using ~ sign
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(C) Using $ sign

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(D) Using £ sign
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g la to build single formula with multiple results in Excel ? ag 1
29.
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What is used

(A) Derived value
(B) Vectors
(C) Round()
(D) Array

30. A sequential code refers to code applied to some documents where: 1

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(A) Account heads are assigned to documents

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(B) Numbers and letters are assigned in consecutive order

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(C) Special names are given to accounts
(D) Documents are arranged in special sequence
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31 A. Explain the following:
(I) Contra voucher ag 3

(II) Post-dated voucher
(III) Receipt voucher

OR
31B. State the advantages of ‘Pivot Table Report’. 3
32. State any three limitations of Computerised Accounting System. 3

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33 A. What is meant by ‘data validation’? What is facilitated by ‘Error Alert tab’? 4

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33 B.
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What is meant by internal margin while using MS Excel? State the options available.
a error and state the
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=SUM(B2B3) will give an error while using spreadsheet. Identify 6
ag steps to correct it.

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